Energy Minister Dr. Matthew Opoku Prempeh says Ghana‘s Energy Transition and Investment Plan seeks to draw $550 billion in capital investments to scale up renewable vitality and introduce nuclear vitality within the nation’s vitality combine, and for the deployment of fresh cooking options and low-carbon options corresponding to Carbon Capture Utilisation and Storage.
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Dr. Opoku Prempeh revealed this on Tuesday, December 5 when addressed traders throughout Ghana’s Energy Day on the Ghana Pavilion on the Conference of Parties (COP28) at present underway in Dubai, UAE.
The Energy Transition Investment Plan (ETIP), he stated, anticipates that the majority of the funding for the tasks will come from non-public sector capital and de-risking devices.
The Government of Ghana, in response to the Minister, will pursue coverage reforms and supply an acceptable setting for the execution of the vitality transition tasks.
“Investments are also needed for the deployment of electric vehicles in replace Internal Combustion Engines, the construction of electric and hydrogen-fuel cell charging stations, the production of biofuels, the replacement of biomass industrial boilers with electric boilers and the provision of energy-efficient electrical appliances for the residential and service sectors among others,” he stated.
He continued: “The realization of the requisite capital will culminate in universal access to affordable and reliable power by 2024, economy-wide decarbonisation, socio-economic development, about 400,000 new jobs, and above all net-zero emissions in the country by 2060.”
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The Manhyia South law maker used the chance to ask all traders to accomplice with the Government of Ghana to undertake the tasks in our Energy Transition Framework to drive industrialization and obtain our net-zero targets.
“As I said earlier, our doors are always open and I look forward to several partnerships,” he concluded.